Cirtek lists P1.37-B rights shares with bonus warrants

Aug 16, 2021

Cirtek lists P1.37-B rights shares with bonus warrants

Published by Manila Bulletin

Cirtek Holdings Philippines Corporation listed at the Philippine Stock Exchange its stock rights offering (SRO) shares worth P1.37 billion as well as the bonus detachable warrants that came with them.

The SRO consisted of 249.44 million common shares sold at an offer price of 5.50 per Entitlement Right at the ratio of 1 Entitlement Right for every 1.68 common shares to eligible shareholders of record as of 7 July 2021.

In addition to the rights shares, Cirtek issued 249.44 million Bonus Detachable Warrants free of charge. The Exercise Price for the Bonus Detachable Warrant is P5.50.

Abacus Capital and Investment Corporation and PNB Capital acted as Joint Issue Managers and Lead Underwriters.

The said it company intends to use the proceeds from the offer to partially retire its short-term obligations and refinance working capital of its subsidiaries, namely Quintel USA, Cirtek Electronics Corp. (CEC) and Cirtek Advanced Technologies and Solutions, Inc. (CATSI).

Quintel USA designs, develops and delivers advanced high efficiency, high-performance antenna products and solutions that help mobile network operators increase efficiency, enhance quality-of-service, slash costs and accelerate returns.

CEC provides turnkey solutions that include package design and development, wafer probing, wafer back grinding, assembly and packaging, final testing of semiconductor devices, and delivery and shipment to its customers’ end users.

CEC is primarily engaged in the business as an independent subcontractor for semiconductor assembly, test and packaging services. CEC has regular customers spread out in Europe, the US and Asia.

CATSI manufactures valued added, highly integrated microwave and millimeter wave technology products catering to the military, telecommunications, satellite communications, enterprise networks, automotive radar, semiconductor test boards, and industrial segment.

The Cirtek Group has built a strong brand within the industries and customers it serves for developing and delivering innovative high-quality products, production flexibility, supply chain stability, competitive costing and capability to work with customers on development of next generation products.

  • Jan 14, 2025

    CATSI recognized top manufacturer of semiconductors

    Published by Manila Standard

    Analog Devices Inc. (ADI), an American multinational semiconductor company specializing in data conversion, signal processing and power management technology, recognized Cirtek Advanced Technologies and Solutions Inc. (CATSI) as the No. 1 contract manufacturer worldwide for the evaluation boards product line (EBPL) for the fourth quarter of 2024.

    CATSI previously held the No. 3 position in the first quarter and second quarter of the year while inching up to No. 2 at the end of third quarter 2024.

    The EBPL is an essential business unit of ADI that allows the company...

    Read more
  • Aug 17, 2021

    Cirtek lists 249M common shares, to issue warrants

    Published by Business World

    CIRTEK Holdings Philippines Corp. has listed 249.44 million common shares in the local bourse, and will issue bonus detachable warrants of the same number, the company said on Monday.

    In a press release, Cirtek Holdings said that the common shares sold through a stock rights offer are at an offer price of P5.50 per entitlement right each. The company set the ratio at one entitlement right for every 1.68 common shares.

    Meanwhile, the company said that it is also issuing bonus detachable warrants which are free-of-charge to the investor. “[The warrants] shall be issue...

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  • Aug 16, 2021

    Cirtek Holdings raises P1.37 billion from stock rights offer

    Published by Manila Standard

    Semiconductor manufacturer Cirtek Holdings Philippines Corp. said Monday it raised P1.37 billion from its stock rights offering. Cirtek said in a disclosure to the stock exchange it listed 249.442 million common shares sold by way of rights offering at P5.50 per share. Shareholders as of July 1 were entitled to purchase 1 share for every 1.68 common shares owned. The shares came with 249.442 million bonus detachable warrants that will be issued free of charge to the investors and as part of the subscription to the entitlement rights. Each bonus detachable warrant e...

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